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American Eagle Outfitters
American Eagle Outfitters, commonly known as simply American Eagle, is a primarily mall-based chain of clothing stores that operates worldwide and is currently based in Pittsburgh, PA. As of 2019, there are 933 American Eagle, 109 Aerie, and 4 Tailgate stores in operation. They are the parent company for Aerie and Tailgate and are the former parent company of 77kids, Martin + Osa, and Bluenotes. History American Eagle began in 1977 when Jerry & Mark Silverman, owners of clothing store chain Silvermans, opened the first store at the Twelve Oaks Mall in Novi, MI. In addition to retail stores, American Eagle also began a mail-order catalog at this time. In 1980, parent company Silvermans Menswear changed it's name to Retail Ventures Inc (RVI). Later that year, wrestling with some financial troubles, RVI sold a 50% stake in the company to the Schottenstein family, owners of Columbus, OH retail giant Schottenstein Stores. In 1985, RVI, in addition to expanding American Eagle, opened several new store concepts, including His Place, Go Places, and Help-Ur-Self. Despite this, RVI continued to focus on American Eagle and in 1989 sold all His Place, Go Places, and Silvermans stores to Towson, MD based Merry-Go-Round Enterprises, a total sale of 125 stores. Shortly thereafter they spun off Help-Ur-Self, which was considered successful, but also "not synergistic with American Eagle". Earlier in 1989, RVI was approached by The Gap, who were interested in acquiring the chain. However, this deal fell through, and RVI refocused on rapidly expanding the American Eagle chain. American Eagle suffered through the early 1990s, wrestling with stagnating profits, reporting a net loss of $8.9 million in 1991. That year, the Schottenstein family purchased the remaining 50% stake in American Eagle held by Jerry & Mark Silverman, giving the Schottensteins full control of the company. In 1992, American Eagle hired it's own team of designers, with the intent to focus on private-label brands as to leverage itself as a value-priced brand, as well opening outlet stores to help shift out-of-season and outdated stock. In 1993, American Eagle Outfitters Inc was established as a subsidiary, and in 1994 went public on the NASDAQ stock exchange, raising an approximate $37 million. The Schottenstein family retained 60% ownership, with vice-chairman Sam Forman holding another 10%. In 1995, as the company rapidly reinvested the $37 million raised into expansion, Sam Forman sold his 10% stake in the company and purchased 32 American Eagle Outlet stores for between $14 and $16 million as American Eagle had decided to focus on proper mall locations, to the point where they closed the remaining 7 outlet stores not purchased by Forman. Forman signed an agreement with American Eagle that allowed his outlet stores to continue operating under the American Eagle Outlets name, and would sell merchandise specifically produced for outlet stores, instead of acting as a way to divulge unsold merchandise. In 1996, American Eagle slowed down it's rapid expansion, and retooled itself to focus on the lucrative 16-34 market demographic, as well as increasing sales of higher margin women's clothing, divorcing itself from it's previous, much more eclectic demographic. In 1997, they purchased New York based Prophecy Ltd, a contract apparel producer, allowing American Eagle to produce it's own clothing for the first time. In 1998, They launched the AE Clear Card, which by 1999 accounted for 14% of sales. In 2000, American Eagle acquired Canadian chain Thrifty's, whose stores were converted to the Bluenotes brand, pulled from a Thrifty's private label. These stores were sold off in 2004, to YM. Inc. In early 2006, American Eagle launched the Aerie brand, targeting the 15-22 year old female market demographic, and later that year, they launched the brand Martin + Osa, which targeted an older, 28-40 demographic. While Aerie has remained successful, all 28 Martin + Osa stores were closed in 2010. In 2008, they launched the 77kids brand, which was sold in 2012 to Ezra Dabah, who renamed and reopened the stores as Ruum American Kids Wear in 2013. In 2015, American Eagle acquired Tailgate Clothing Company, which focused on vintage collegiate-style apparel. See also * List of American Eagle Outfitters Locations * Abercrombie & Fitch * Aéropostale External links * American Eagle Outfitters on USA Store Fanon Wiki Category:Mall stores Category:Clothing stores Category:Mall clothing stores Category:1977 Category:Mall Retailers Category:Women's clothing stores Category:Men's clothing stores Category:1977 establishments Category:Teen stores Category:Retailers by type